The Property issue has been discussed during the meeting between Cyprus
President Demetris Christofias and T/c leader, Dervis Eroglu, in the
framework of the direct negotiation process aimed at finding a mutually
accepted solution to the Cyprus problem.

As Lisa Buttenheim, the newly appointed UNSG`s Special Representative
in Cyprus and Head of the UN Peacekeeping force in Cyprus (UNFICYP)
said, the meeting of the two leaders lasted two hours. The leaders
agreed to meet again on 23rd of June, 9th of July, 22nd of July and
28th of July. All the meetings will begin at 10 am.

The representatives of the two leaders, Presidential Commissioner,
George Iacovou and T/c leaders advisor, Kudret Ozersay, will continue
to meet, she added. Iacovou and Ozersay will also visit Limnitis area
to observe the progress of the work.

Asked if at the coming meetings the leaders will continue the
discussion on the property issue, Buttenheim said that this question
should be raised to the two leaders. Upon a question if they were any
new proposals in this meeting, she said that she can not come on what
it was discussed but it was in a friendly atmosphere.

The last meeting on June 3, 2010, was postponed at Christofias
initiative, after statements by Eroglu who questioned the basis of the
talks.

Cyprus has been divided since 1974, when Turkey invaded and occupied
its northern third. President Christofias and former Turkish Cypriot
leader Mehmet Ali Talat began peace talks in September 2008. Talks now
continue with the President and Eroglu.

The two sides submitted their positions, President of the Republic
Demetris Christofias has said referring to his meeting with the Turkish
Cypriot Leader Deervis Eroglou held on Tuesday in the context of the
direct negotiations aiming at reaching a comprehensive solution to the
Cyprus problem.

In his statements following his return to the Presidential Palace from
the venue where the talks take place, President Christofias said we
have started. Both sides submitted their positions.

He added that the meetings will continue on dates announced both at the
level of the leaders and advisors.

Asked whether the positions submitted today are new ones, he said that
today, the two sides have reiterated their positions.

In response to another question, he said that advisers to the two
leaders will visit the Limnitis area ``to review the work carried out.

Asked whether he has raised the issue of territorial adjustments and
settlers or he intends to do so, he replied: ``of course I have raised
it and I will continue to do so.

Cyprus has been divided since 1974, when Turkey invaded and occupied
its northern third. President Christofias and former Turkish Cypriot
leader Mehmet Ali Talat began peace talks in September 2008. Talks now
continue with the President and Eroglu.

The UN Security Council, in a resolution with which it renews the
mandate of the UN Peacekeeping Force in Cyprus (UNFICYP) for a further
six months, welcomes the progress made so far in negotiations for a
solution of the Cyprus problem and the prospect of further progress in
the near future towards a comprehensive and durable settlement that
this has created.

The Security Council also urges full exploitation of this opportunity,
including by intensifying the momentum of negotiations, preserving the
current atmosphere of trust and goodwill, and engaging in the process
in a constructive and open manner.

In its resolution, the Security Council ``welcomes the analysis of
developments on the ground over the last six months in the
Secretary-Generals reports, in accordance with his mandate,`` and also
welcomes ``the progress made so far in the fully fledged negotiations,
and the prospect of further progress in the near future towards a
comprehensive and durable settlement that this has created.``

It ``urges full exploitation of this opportunity, including by
intensifying the momentum of negotiations, preserving the current
atmosphere of trust and goodwill, and engaging in the process in a
constructive and open manner,`` and also urges ``the implementation of
confidence-building measures, and looks forward to agreement on and
implementation of further such steps, including the opening of other
crossing points.``

The Security Council ``reaffirms all its relevant resolutions on
Cyprus, in particular resolution 1251 (1999) of 29 June 1999 and
subsequent resolutions, eexpresses its full support for UNFICYP and
decides to extend its mandate for a further period ending 15 December
2010,`` and furthermore ``calls on both sides to continue to engage, as
a matter of urgency and while respecting UNFICYPs mandate, in
consultations with UNFICYP on the demarcation of the buffer zone, and
on the United Nations 1989 aide-memoire, with a view to reaching early
agreement on outstanding issues.``

It also ``calls on the Turkish Cypriot side and Turkish forces to
restore in Strovilia the military status quo which existed there prior
to 30 June 2000.``

Russia is amongst the largest foreign investors in Cyprus, Minister of
Commerce, Industry and Tourism Antonis Paschalides has said.

Addressing Tuesday the Moscow Business Forum, in Russia, the Minister
said that the value of Russian investments in Cyprus reached 2 billion
Euro in 2008, whereas the value of Cypriot investments in Russia during
the same year was more than 1.5 billion Euro.

These investments, he went on to add, are mainly in real estate and
business activities, trade and repairs, financial intermediation, and
manufacturing.

Referring to trade, he said that exports of Cyprus products to Russia
during the period 2005-2008 represented an increase of 55%, despite the
small decline in 2009 which is due to the recent economic crisis.